boltushkin

Demo account is a perfect tool for learning how to trade without taking any risk.

But you also have to be aware that there are differences between a demo and a real account. Especially in terms of trading psychology - you don't experience the same emotions as on a real account. That's not to say there's anything wrong with trading on a demo account, you just have to be careful when switching over to a real account.

Learning forex has been considerably simpler in recent years, with traders able to watch videos on YouTube, participate in forex forums, and benefit from instruction given by brokers such as Hotforex or Tickmill. Furthermore, many brokers provide a significant deposit bonus.

After learning at demo trading, using a cent account for beginners is the right first step for novice traders. After being consistent enough on a cent account, we can switch to Hotforex micro account, which provides many benefits such as low spreads and generous deposit bonuses 

If you avoid risk you lose opportunity to earn, because the profit is essentially reward from the market for that you share future uncertainty with them. However I prefer to take low risk and pursue moderate profit goals trading with Hotforex. 

I trade with Hotforex, which provides access to an impressive array of 6 or 7 distinct asset classes, each containing a multitude of instruments. In my trading approach, I seek out less mainstream assets, aiming to carve out my own unique niche. My belief is that the presence of higher spreads in these less popular assets signifies a reduced level of competition, ultimately offering advantageous conditions for retail traders like myself.

You're absolutely right; this approach appears to be quite popular among novice traders. Nevertheless, it's essential to note that professional traders also recognize the value of scalping strategies. This is because numerous market inefficiencies emerge and vanish within short timeframes. Therefore, there is a compelling, logical basis for pursuing success in scalping.

In fact, my preferred strategy at Hotforex is centered around capturing short-term market movements, often unfolding in a matter of seconds.

There are several brokers that provide good trading conditions for traders. I trade with Hotforex, an FCA-regulated broker that is suitable for scalping because of its tight spreads, which start at 0.1 pips in other major pairs and 0.0 pips in EURUSD.

On 9/17/2023 at 4:40 PM, sam_oi_2 said:

Which trading broker do you use?

I use various brokers to get better understanding how I can differentiate between good brokers and useless but my favourite one is definitely Hotforex because it has really great choice of trading instruments - from currency pairs to bonds. 

With scalping you get outcome quickly, no need to wait, so you can practice a lot. I also started from scalping with Hotforex and still sometimes trade this style when I see an opportunity, like high-volatile market after news. 

Been sticking to 1:100 leverage for the last two years with Hotforex, sometimes there are opportunities when I feel I should take higher risk than usual, this is when high leverage becomes useful. Though it doesn't happen too often maybe 1-2 times a month. 

I trade equity and currency CFDs with Hotforex basically they offer really wide range of assets, from major to exotic ones. 

Scalping is easy for beginners to understand where a trader can open and close traders quickly, and it is also a quick way to earn profits.

Still, you need to be careful while scalping because it could be pretty complicated to predict its direction.

I agree that scalping is simple, but in theory in practice still difficult. How to make a good scalping strategy, how to enter market at the right time and so on. Since people love talks about fast profit, or receiving small profit that repeated over and over again until you received a lot of money from it so it is why scalping is popular. 

Sometimes they make the market for you, but I try to trade with a brokers like Hotforex which act as a pure mediator. 

I use 1:100 leverage with Hotforex but I also try to maintain good amount of equity to reduce leverage to save up on borrowing costs. This is especially important if you hold positions overnight. 

On 10/8/2022 at 5:25 PM, Katie_90 said:

Do you use any bots for auto trading? can you share smth? 

I use FAP turbo and PAMM trading at Hotforex you can find this bot on trading forums but make sure you first tried it on demo. Also do not hesitate to try it setting different parameters and using different assets and even asset classes like forex, metals, commodities, indices, etc.

Major forex indicators include Moving Averages, Relative Strength Index (RSI), MACD (Moving Average Convergence Divergence), Stochastic Oscillator, Bollinger Bands, and Fibonacci retracement levels. These indicators help traders analyze market trends, momentum, and potential entry/exit points. However I use only RSI and ATR trading with Hotforex.

Well, I use Hotforex premium account with raw spreads (i.e. without markup) plus commission. I don't think there are some substantially better options in the market for retail clients. 

Eliminating risk entirely in trading, or any financial endeavor, is virtually impossible. Risk is inherent in all investments, and the financial markets are no exception. However, you can manage and minimize risk through various strategies, such as diversification, proper risk management techniques (like setting stop-loss orders), thorough research, and continuous learning. The goal is not to eliminate risk but to reduce it to a level that you are comfortable with and can handle within your trading plan.

Yeah scalping is quite popular among novice traders because it is simple and trade outcome becomes known quite fast. Also it helps to gain experience faster since you have more practice. I started from scalping with Hotforex and still use some strategies with fast returns. 

On 8/23/2023 at 1:13 PM, James Mcgrant said:

Working with many brokerage firms has been a really pleasant experience for me as a trader. At the very least, I deal with a broker called FP Markets and am pleased with my decision.

Good choice. I would also recommend to try Hotforex as they are cheaper at least a quick glance at spreads reveals decent difference 

SL and TP  are just tools to limit the risk and not to reduce it at all. If you want to eliminate the risk, the answer is pretty simple and straigthtforward, DON'T TRADE. Trade in forex means the risk, opening a position and close a position also included. We speculate on the market and not for investment.

Hotforex broker is a very qualified broker, which I have proven and joined here a long time ago. They are already 18 years old, and they provide drawdown bonuses and excellent trading speed.

Beginner traders often gravitate towards scalping due to its perceived quick profits and excitement. Scalping offers frequent trading opportunities, which can be appealing to those eager to see immediate results. However, it requires strong focus, discipline, and precise execution, making it challenging for newcomers. As beginners gain experience, they may explore other trading styles to find the one that best suits their skills and temperament.

Traders prefer regulated brokers for several important reasons:

1. **Investor Protection:** Regulation ensures brokers adhere to strict standards and financial practices, protecting traders from fraudulent activities and ensuring fair treatment.

2. **Segregated Funds:** Regulated brokers are required to keep client funds separate from their operational funds, reducing the risk of misappropriation.

3. **Transparency:** Regulated brokers must provide clear and accurate information about their services, fees, and trading conditions, promoting transparency.

4. **Ethical Standards:** Regulations enforce ethical behavior, reducing the likelihood of unfair practices or manipulation.